03-04-2016, 06:35 PM
(02-28-2016, 02:39 PM)fredtoast Wrote: Lack of regulation of credit default swaps led to lots of institutional investors (managers of retirement funds) holding C rated crap investments when they were vsupposed to be limited to investing only in higher rated instruments.
People who wanted to "let the banks fail" did not get the point that lots of innocent people would havem lost their retirements as well.
Alos, lost of people who walked away from mortagages could afford them when they purchased the house, but they were not just going to stay on the hook for a $300K mortgage when the house was only worth $150K.
I think we should have let the banks fail and spent the bailout money on paying out those retirements.
